SACRAMENTO, CA - Anne Stausboll, Chief Executive Officer of the California Public Employees' Retirement System (CalPERS), today issued the following statement in response to a study released by the California Foundation for Fiscal Responsibility that outlines two proposals to reduce public employee pension and health benefits.

"Pensions and adequate health care are the foundation of retirement security for public employees today and in the future. Retirees and their families rely on the modest income and health benefits. The issues outlined in the report will significantly impact the lives of public servants. Any policy decisions that carry such magnitude of impact must be made based on all the facts, careful consideration of all the implications, and most importantly be free from ideology.

"CalPERS was not afforded the opportunity to review the report. What we have seen reported raises significant policy and legal questions. We will closely examine the research, methodology and implications through the lens of our role to provide retirement security and health benefits for our members and their families."

CalPERS provides retirement benefits to more than 1.6 million State, public school, and local public agency employees, retirees, and their families, and health benefits to nearly 1.3 million members.

Pension Quick Facts (as of June 30, 2010)

* Average monthly service retirement allowance all retirees: $2,220

* Average years of service all retirees: 20.2

* Average monthly service retirement for school miscellaneous members: $1,193

* Average years of service school retirees: 16.8

* Average monthly service retirement for State members: $2,500

* Average years of service State retirees: 23.1

* 74 percent of all service retirees receive $36,000 a year or less.

* 86 percent of CalPERS retirees, survivors, and beneficiaries live in California.

User Agreement

Keep it civil and stay on topic. No profanity, vulgarity, racial
slurs or personal attacks. People who harass others or joke about
tragedies will be blocked. By posting your comment, you agree to
allow Orange County Register Communications, Inc. the right to
republish your name and comment in additional Register publications
without any notification or payment.